Rev.io Maintains Highest Level of Security Standards by Deprecating Support for TLS Protocol Versions 1.0 and 1.1

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Rev.io clients use HTTPS to securely connect with Rev.io’s IoT and telecommunications billing system, API, Agent Portal, and Customer Portal (or BillCenter).

We use the Transport Layer Security (TLS) protocol to encrypt these connections. To ensure the security of our systems, and maintain our compliance with the PCI Data Security Standard (PCI DSS) for safeguarding payment data, Rev.io is updating its product suite to require a minimum of version 1.2 of TLS for all HTTPS connections.

Support for TLS versions 1.0 and 1.1 is being deprecated on June 14, 2018.

As a result, anyone attempting to connect to Rev.io products using unsupported browser versions will be unable to do so.

To continue using Rev.io products, you will need to upgrade to a more modern browser with support for TLS 1.2 or later. For applications integrating with Rev.io products, all HTTPS and API connections will require a minimum connection strength of TLS 1.2 or later.

To help our clients and end-users prepare for this change, we’ve come up with some FAQs and we’re excited to share these with you here!

1. what does this mean?

Rev.io will stop accepting TLS based HTTPS connections made using TLS versions 1.0 and 1.1 beginning June 14, 2018. As a result, clients and applications attempting to connect with older versions of TLS will not be able to establish a secure connection and will be unable to access Rev.io products.

After deprecation, Rev.io will no longer address bugs and minor issues specific to connections supporting TLS versions 1.0 and 1.1. We will continue to resolve any major breakage in functionality until the deprecation date. After deprecation, Rev.io will also no longer provide support for connections supporting TLS versions 1.0 and 1.1.

After the deprecation date, if you are connecting using TLS versions 1.0 and 1.1, you will fail to establish a connection and will be unable to access Rev.io products.

2. which rev.io products will be impacted?

This change applies to Rev.io’s IoT and telecommunications billing system, API, Agent Portal, and Customer Portal (or BillCenter).

3. why is rev.io removing this?

The PCI Council has mandated that support for version 1.0 of the TLS cryptographic standard should be deprecated by June 30, 2018 for companies to stay compliant with the PCI Data Security Standard (PCI DSS).

Rev.io’s mission is to keep clients ahead of their competition and grow revenue efficiently. As part of this promise, we’re maintaining the latest security standards for our usage-rating and telecommunications billing system with this TLS change.

4. am i affected?

All Rev.io products are impacted by this change, including Rev.io’s IoT and telecommunications billing system, API, Agent Portal, and Customer Portal (or BillCenter).

Additional information about specific products is below:

Rev.io’s IoT & Telecommunications Billing Platform

  • Your Rev.io site (clidentcode.rev.io) will no longer be accessible from any browser or device that does not support TLS 1.2 or higher after the cutoff date. This means you will not be able to access your full suite of Rev.io functionality including billing, ticketing, and/ or reporting.

API

  • For applications integrating with Rev.io, all API connections will require a minimum connection strength of TLS 1.2 or later. If your API connection is not updated to meet this minimum security standard, the connection will not succeed and your application will not be able to connect to Rev.io.

Agent Portal

  • After the cutoff date, your Agent Portal site (clientcode.agentclick.com) will no longer be accessible from any browser or device that does not support TLS 1.2 or higher. This means that your agents will not be able to access any Agent Portal functionality if their browser or device does not meet the minimum security requirements.
  • We recommend reaching out to your Agents directly to communicate this change as well as posting a news item or alert to the Agent Portal from your Rev.io site. If you need assistance completing this, please feel free to contact our Client Success Team!

Customer Portal (or BillCenter)

  • After the cutoff date, your Customer Portal site (clientcode.billcenter.net) will no longer be accessible from any browser or device that does not support TLS 1.2 or higher. This means that your customers will not be able to access any Customer Portal functionality if their browser or device does not meet the minimum security requirements.
  • We recommend you reach out to your Customers directly to communicate this change as well as posting a news item or alert to the Customer Portal from your Rev.io site. If you need assistance completing this, please feel free to contact our Client Success Team!

5. What do I need to do?

For you: be sure that you are running on a modern browser, such as Internet Explorer 11, Mozilla Firefox 27, Google Chrome 30, or Apple Safari 7 or newer. If you are not using one of these browser versions or newer, you will need to update to at least one of these versions.

For your agents: be sure that they are running on a modern browser, such as Internet Explorer 11, Mozilla Firefox 27, Google Chrome 30, or Apple Safari 7 or newer. If any of your agents are not using one of these browser versions or newer, they will need to update to at least one of these versions.

For your customers: know that they will be able unable to connect to Rev.io if they are using older browsers. To continue to use the products, they will need to be using a modern browser, such as Internet Explorer 11, Mozilla Firefox 27, Google Chrome 30, or Apple Safari 7 or newer. Mobile versions of Rev.io products will also fail to connect securely on Android OS version 4.1 and below, or the Android Browser on Android 4.4.4 and below. Customers with iOS devices prior to iOS 5.1 will also be unable to connect to Rev.io securely after the deprecation date. Customers should update the version of mobile operating systems to gain support for TLS 1.2 or use a more modern browser with support for TLS 1.2.

6. what browsers can i use?

The minimum browser versions include browsers such as Internet Explorer 11, Mozilla Firefox 27, Google Chrome 30 or Apple Safari 7. iOS 5.1 and Android 5 Lollipop or later will be required to connect to the mobile web versions of the products.

7. What happens if I don’t migrate before the removal date?

You will be unable to securely access the Rev.io products beginning June 14, 2018.

8. WHO SHOULD I CONTACT IF I NEED HELP OR HAVE QUESTIONS?

For more information about Rev.io or if you have specific questions about how this change will impact our IoT and telecommunications billing system, please contact our Client Success Team!

4 Plans for Monetizing IoT

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The IoT industry isn’t new. After all, we’ve been using connected devices for quite some time now to capture information and monitor statuses. But, despite forecasts from Bain Capital of annual revenues of $470 billion by 2020, many organizations who have invested in an IoT project have yet to capture any significant revenue from their solution. So how can you go about monetizing IoT? We’re glad you asked!

The current market for Internet of Things (IoT) reflects a growing focus on driving results using sensor-based data with the ultimate goal of solving complex logistics, manufacturing, services, and supply chain challenges. However, organizations will fail to see results if they continue without a clear strategy to generate revenue from their devices, services or data.

Here are our 4 plans for IoT monetization and IoT billing management:

iot household & consumer devices

Companies such as Nest have become household names for monitoring home security, managing energy consumption, and replacing “dumb” devices (think doorbell and smoke alarms) with “smart” ones.

Selling these devices at a premium, one-time charge and supplying the consumer with a better, app-enabled mouse-trap has made houses more secure, more sustainable, and safer. What’s even better, the end-user can adjust settings and monitor devices from anywhere.

The IoT monetization model here is a software-as-a-service model paired with physical products. The benefit to offering this type of pricing model is the scalability and one-time customer acquisition cost. That being said, a recurring revenue or subscription-based business is more predictable and profitable than flat-rate billing.

subscription & flat-rate iot billing

Subscription and flat-rate pricing models have become more popular among both B2B SaaS companies and consumer products. Subscription billing is common for consumers, easy to manage for providers, and allows companies to better predict revenue. However, flat-rate billing doesn’t take into account the fluctuation in end-customer usage.

Most businesses offer a few one-size-fits-all plans and rely on the customer to mold themselves into their desired choice. Whereas, a pay-as-you-go plan gives customers what they want – potentially increasing sales and decreasing revenue leakage.

That being said, connecting billions of devices and managing usage-rating, taxation, and inventory can be a lofty task. Fortunately, adopting a technology like Rev.io can alleviate these IoT monetization problems, automate usage-based billing, and collect payments.

usage-based iot billing & rating

Billing for a usage-based offering is not an easily achievable task but there are several companies disrupting the market and fully embracing consumption-based pricing. A recent study found that Generations Y and Z are more financially conservative than the Baby Boomers – these younger generations have developed spending habits that reflect those of the Great Depression (or the Silent Generation).

The fiscally conscious generations will not pay for what they don’t need and many will discontinue a service if they aren’t being billed fairly. Service providers must take note – the time is now to adopt a usage-based billing model and the infrastructure to support it.

The service providers that offer pay-as-you-go services will have a significant competitive advantage in the market. In the coming years, usage-based revenue models will overcome the Communications, cable, music subscriptions, GPS trackers, energy providers, and eventually transportation.

If this is your first time monetizing IoT or offering a new pricing model, prepare yourself for the change with our 4 Considerations of Consumption-Based Pricing blog post.

capturing & sharing customer & device data

Another way IoT companies can monetize their offering is through their data. Measuring and analyzing customer or device data will become a staple for IoT monetization offerings.

We’re predicting insurance companies, healthcare facilities, and car manufacturers to be big buyers for scenarios like tracking good drivers versus bad drivers, monitoring patients after a physical therapy session or checkup, and evaluating future opportunities for automobile design and manufacturing.

In order to capture and share data with key stakeholders, companies also need to track the amount of money they’re spending on data usage. This will help your organization’s IoT monetization strategy in developing a profitable price point and generate revenue from your data.

The good news? Rev.io does the heavy lifting on usage-rating and IoT billing operations, so you can spend time scaling your business. With existing integrations in place to seamlessly manage new orders, service usage, tax calculation, and support, Rev.io alleviates IoT billing and customer management pain. The proof is in the platform – Rev.io clients grow by more than double the industry average. Contact Rev.io to get in touch with our team of experts today to see what our subscription billing platform can do for you.

 

5 Signs Your Business is Suffering From Revenue Leakage

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Could your business be losing money from revenue leakage? According to experts, the Communications industry saw estimated losses of $953 million due to revenue leakage. Don’t let your business suffer from this growing epidemic.Take a look at the following five signs of revenue leakage and see if any of these apply to your business.

1. lack of integrated usage-rating

Whether you’re charging a flat rate or billing for consumption, it’s imperative that you can view and manage customer usage in (near) real-time. A best-in-class billing platform automates usage-rating, giving you a pulse on your business and better visibility into your customers.

If you’re thinking about adopting a usage-based pricing model, take a look at our 4 Considerations for Consumption-Based Pricing blog post.   

2. spending time on manual processes

Communications and IoT service providers have experienced unprecedented growth rates in the last few years. The scalability of your business depends on the effectiveness of your internal processes. Whether you’re spending time calculating taxation, creating invoices, or managing payments, you’re losing hours that could be dedicated to growth.

Fortunately, a telecom billing or IoT monetization engine, like Rev.io, automates billing and improves customer service – so you can get back to building your business.

3. bill-run flexibility

Not all billing platforms are created equally. It’s important to know that the Billing-as-a-Service provider is evolving alongside your business. Before you trust any company with your revenue, ask yourself these questions:

  • Is your billing platform enhancing their software with +1,600 releases each year?
  • Can you make last minute changes on the spot, create ad-hoc bills, reverse charges, and run bill cycles on your own?
  • Does your billing system provide an open API to support new integrations?
  • Are there programs in place for ongoing training or unlimited access to support teams and resources?

If you answered “no” to any of these questions, your business may have outgrown your billing system.

Telecom Billing System

In 2017, Rev.io enhanced their usage-based billing platform with 1,845 new development releases.

4. Built-in and CUSTOMIZABLE REPORTING

Very few businesses can prosper without proper business intelligence. At a bare minimum, your billing platform should come with backed-in reports for managing un-billable calls, past-due balances, and at-risk customers. However, a growing company looking to stay lean, add new offerings, and beat their competition will also need advanced functionality, like Rev.io’s robust report builder.  

5. limited customer experience tools

Regardless of your industry, superior customer experience is the number one separating factor for top-notch brands. Look for a telecom billing or IoT monetization engine that helps you improve customer satisfaction and revenue retention. Rev.io’s integrated customer and agent portals reduce support hours, elevate user experience, and streamline internal operations.

Rev.io exists to help our clients grow revenue efficiently. With a consultative approach to providing IoT telecom billing solutions, we see your customers as our customers. As a leader in usage-based billing, Rev.io’s company values and mission drive our organization. Whether you’re a large, enterprise evaluating new billing systems or just starting out in the Communications and IoT space, Rev.io can help. Contact Rev.io to get in touch with our team of experts today to see what we can do for you.

3 Characteristics of an Intelligent Billing Platform

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Why is it important to have an intelligent cloud based billing platform? Particularly for Communications and IoT service providers, operating without an automated billing, usage-rating, and customer/ device management solution can inhibit growth.

In our most recent survey, The Current State of Communications and IoT, 73% of companies said they’re seeing at least a 20% annual growth rate. If you’ve found the financial health of your business suffering from revenue leakage, billing errors, or high employee overhead, it’s time to consider other options.

Communications Billing System

When evaluating billing platforms, there are several ways to separate the duds from the game-changers. Look for a cloud based billing platform that meets the following characteristics:

1. customizable platform with scalability

Adopting a new technology consumes one of your biggest resources – time. Before you make an investment, be sure to think about where your company is headed. Will you be adding a new offering? Expanding into a new market? Moving from an inside sales to an agent model? Be sure to consider the scalability of the new software and your future company initiatives.

 An intelligent cloud based billing platform should eliminate manual processes and make it easier to grow.  Look for a customizable IoT and Communications billing platform with built-in inventory management, integrated tax calculation, and workflow automation capabilities. The leading Billing-as-a-Service platforms allow you to consolidate multiple systems and provides a clear picture into your revenue and customers.

A good platform will not only meet your company’s needs but will also empower your customers. Complement your offering with a robust self-service customer portal for tracking usage, support tickets, locations, and new orders. At Rev.io, we think of ourselves as your billing partner – rather than just another software – and we’ve developed additional tools to help clients improve satisfaction and reduce churn. By coupling our intelligent telecom billing platform with self-enablement portals, our clients build lasting relationships with customers and agents.

2. intelligent billing & integrated usage-rating

Subscription and pay-as-you-go pricing models have changed the way modern consumers and businesses interact. In order to stay current, Communications and IoT service providers must incorporate usage-based offerings into their services. With the right technology, consumption-based billing becomes simple. Look for an IoT and Communications billing platform with an established network of strategic partners and integrations; this will streamline manual processes by populating usage-rating and automating new orders, service suspensions, and disconnects. For additional usage-based billing tips, check out our 4 Considerations of Consumption-Based Pricing blog post!

In addition to facilitating usage-based pricing structures, you can identify a top-notch billing system by evaluating your billing partner’s development roadmap, ease of integration, and internal team. Here are some questions to ask while your searching for potential billing partners:

  • What percentage of your revenue do you reinvest into R&D for platform enhancements?
  • Are your software engineers?
  • Do you have a REST API or other method to build new integrations? (Check out Rev.io’s REST API design documentation here)
  • What methods are in place for clients to share their ideas or influence your development roadmap?
  • How many enhancements were made to the platform last year?
  • How many integrations have you built to third-party platforms?
  • BONUS QUESTION: How can I create custom proposals in the billing platform to quote potential new customers or orders?

3. established onboarding and ongoing training programs

After spending the time to thoroughly vet a new software and deciding to implement the technology, the last thing you want is to fall on your face during the onboarding or training phase. Inquiring about the onboarding process can save you time and money (and possibly a huge headache). The best billing platforms have created a detailed implementation model and have knowledgeable, in-house onboarding and training teams.

When evaluating a billing partner, here are the best questions to ask about onboarding:

  • Can you share with me the full onboarding plan and detailed documentation about the process?
  • Will our company have an assigned, main point of contact that works with us during the entire implementation?
  • Do you have technical experts to help with migrating data from our old platform?
  • How will I be notified as we move through different onboarding stages?
  • Who will be training our team on how to use the platform and what’s the process for the getting additional training afterwards?
  • Will any of our training sessions be in person?
  • BONUS QUESTION: Can I speak to two references who recently went through onboarding your platform?

Whether you’re just ensuring you’re in good hands with your current IoT or Communications billing system or already evaluating new back-office technologies, we can help! And the good news is, adopting a new platform doesn’t have to be daunting. Subscribe to receive industry news and tips to help you grow, delivered straight to your inbox. Or, request a demo to see how Rev.io can help you achieve revenue goals.

4 Considerations of Consumption-Based Pricing

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Is a pay-as-you-go pricing model and billing strategy the next big industry trend?

As subscription and IoT service providers, you can’t afford to fall behind your competition or ignore key changes in the market. That’s why we’ve decided to take a closer look at consumption-based pricing and what it takes to successfully support a usage-based service.

Subscription-based billing models have become the go-to strategy for many industries. In 2000, Salesforce.com was among the first in the software industry to charge a per-user, per-month price. Today, industry leaders are looking further than a simple subscription model to adopting consumption-based offerings instead. In fact, a growing number of subscription and IoT companies are shifting from flat-rate monthly fees to pay-as-you-go pricing. If you’re looking to disrupt your market with a usage-based service, take a look at our 4 “gotchas” and avoid some of the potential pitfalls.

1. managing usage

One key element to offering a  pay-per-use model is advanced billing capabilities. In order to successfully create a consumption-based business, you’ll need to be an expert in managing customers, calculating usage, and billing operations. Rather than throwing people at a broken problem, look for a usage-based billing system that can take your back-office to the next level. Carefully evaluate each vendor’s ease of integration, existing carrier provisioning, and development roadmap for enhancements. It’s important to find a partner that will evolve with your business.

2. forecasting revenue

Subscription services are predictable – making it easy to forecast long-term revenue. When offering a pay-per-use service, one thing to consider is standardizing your revenue with a monthly minimum charge. Even a small monthly minimum fee will help you forecast and provide a baseline for the financial health of your organization.

3. avoiding bill shock

Alleviate the possibility of higher-than-anticipated bills by providing your end-customers with a self-service portal for viewing usage, creating support tickets, and monitoring new orders. The best types of customer portals come with built-in reports and the ability to create custom reports. In addition to avoiding bill shock, customer-facing portals increase satisfaction and retention.

4. consumption based technologies

Your success hinges on your technologies. Consumption-based pricing solutions require different technologies and processes than traditional flat-rate pricing models. When you’re looking for new or improved billing and back-office software, be sure your platform has functionality for real-time usage reporting, automated rating, built-in tax calculation, improving customer visibility, and billing flexibility. An intelligent usage-based billing system will complement your service offering – and make it easier for you to monetize any pricing model.

Don’t let a flat-rate flat-line your revenue, check out our full Capturing Recurring Revenue with Usage-Based Pricing eBook for more information!

LEARN MORE

Don’t leave your success to chance. Partner with the right technology providers to ensure successful pay-as-you-go pricing adoption. Rev.io’s all-in-one-solution can tackle billing, customer management, tax calculation, reporting, order and service tracking, and more. We would love to help you disrupt your market! Our usage-based billing platform is perfect for subscription and IoT service providers looking to scale – let Rev.io take your team to the next level! Contact Rev.io by filling out a quick form or giving us a call at 866-470-5502 and learn more today!

The Current State of Communications & IoT

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The communications and IoT industry is constantly evolving. In order to keep up with competition, service providers must remain in-tune with new technologies, opportunities to expand, and differentiating strategies. That’s why we decided to launch our first “State of Communications and IoT” report. Rev.io, in conjunction with Altaworx, surveyed Communications and IoT leaders nationwide to explore:

  • Communications providers’ interest in expanding into IoT
  • The current technology landscape for Communications and IoT companies
  • Plans for growth and challenges facing the market

By surveying companies in the space, we hope to provide you with a pulse on the industry. Here are the key findings from our report:

iot expansion is a priority

The growing IoT buzz has caused a majority of service providers to pursue ways to complement their existing offering with an IoT service. However, not many in the Communications space have breached the gap to IoT. With plenty of green space in the field, we believe that those able to get to market fastest will be most successful.

IoT billing

differentiate with self-service technology

Communications and IoT providers are lagging behind other industries in the customer experience movement. With this movement, customers now expect service excellence and user enablement as part of all products and services. Unfortunately, our industry has been slow to react to this change. For service providers looking to grow revenue, we recommend differentiating from the norm by leaning into the user experience movement. We’re predicting that the service providers with the most customer enablement and self-service technology will win more deals and grow revenue, faster.

While the Communications and IoT markets are growing their portfolio of offerings, enabling customers through self-service portals and support technologies has not been a priority.

Telecom Billing

growth plans in place

Growth is stable across the board – a large majority reported annual growth rates of 20% or more –  and one-third of companies surveyed said they’re considering a merger or acquisition in the next three years. As companies prepare for an M&A in the internet of things future, it’s important to have clear visibility into operating margins and accurate BI reports. Rev.io recommends maximizing your valuation by putting technology in place today to manage financial, customer, billing, and tax data.

IoT Billing

Companies surveyed are preparing for growth through investing in new service offerings and improving customer experience to reduce churn. The team at Rev.io predicts many of those new service offerings to be in the IoT segment. Along with the migration towards pay-as-you-go pricing models, it makes sense for customer retention strategies to be top-of-mind. When managing a recurring revenue business, improving customer experience and reducing churn is important for predicting revenue growth for the internet of things future.

IoT Billing

manual processes & outdated technologies are hindering growth

Manual processes was selected by surveyors as the most common challenge in managing a recurring revenue business model. In addition, our report found that the lack of scalable billing and back-office solutions was the greatest hurdle for reaching business objectives this year.

IoT billing

Check out the full State of Communications and IoT infographic.

The good news? Rev.io does the heavy lifting on usage-rating and billing operations, so you can spend time scaling your business. With existing integrations in place to seamlessly manage new orders, service usage, taxation calculation, and support, Rev.io alleviates billing and customer management pain. The proof is in the platform – Rev.io clients grow by more than double the industry average. Click here to learn more about the Rev.io platform.

 

6 Tips for Conducting Better On-Site Sales Meetings

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The Software-as-a-Service (Saas) industry has revolutionized B2B sales teams and the selling process. Today, more than ever, opportunities are being sold – from start to finish – remotely and sales reps are leveraging new technology to facilitate virtual meetings (such as webinar and video conferencing). By eliminating the time and cost of travel, salespeople are able to reach significantly more prospects in a shorter period of time – leading to greater revenues at lower costs.

That said, oftentimes your largest potential customers will still request a face-to-face meeting; particularly if you’re selling complex solutions. We run into this a lot with our telecom billing platform – imagine replacing your system for managing customers, collecting revenue, tax calculation, ticketing, and automating workflows. At Rev.io, we’ve found that on-site meetings can be a critical component of moving large opportunities to closure. And, if done correctly, on-site meetings can become a powerful tool for a sales rep.

Before you take the time and expense (and ask your prospect to invest their time) to travel to an on-site sales meeting, it’s important to plan for the interaction. Here are some planning tips for conducting effective on-site sales meetings:

1. HOLD AN INITIAL MEETING REMOTELY

Before committing your company resources to travel to the potential customer, hold an initial discovery call to learn about your prospect’s business and qualify the opportunity. The qualifying meeting can help you gauge the prospect’s interest, identify if there is a need, and quantify the value associated with your solution. In addition, ask your executive contact/ sponsor to champion you holding interview calls with the key stakeholders in the project – you’ll want to gain their perspective prior to an on-site meeting as well.

2. PROPOSE A MEETING AGENDA IN ADVANCE

The most effective sales meetings have a clearly outlined agenda and topics to be communicated. When traveling to a prospect’s office, you should create a meeting agenda, share the written schedule with your prospect, and discuss the proposed topics in advance. Getting feedback before the meeting will help you cater the meeting to the potential customer’s specific concerns or questions, allow you to schedule outside resources to call into parts of the meeting (such as a technical sales engineer or onboarding expert), and show that you’re confident the meeting will be worth their time. Bring hard copies of the agenda to the meeting and hand these out to each of the attendees. This sets the tone of the meeting early on and sets the audience’s expectations of the topics and timeline.

2017_ON_SITE_AGENDA_Template

3. keep presentations focused on business initiatives

Use the intelligence gained from initial remote meetings to craft the message of your on-site presentation.  All presentations and product demonstrations should show how your solution will directly impact your prospect’s revenue growth, expense reduction, competitive advantage, or risk mitigation. If the content you’re sharing doesn’t tie back to one of those business initiatives, leave it out!

When you’re in the prospect’s office it can be easy to relinquish control of the meeting, but it’s imperative that you stick to the plan.

4. ask for feedback

On-site meetings with potential customers will typically involve stakeholders from multiple functional areas. Keep in mind, each person will have their own agenda and frame of reference when evaluating your solution. Near the end of the meeting, ask each attendee to write down at least one area of your solution that could benefit their functional department and at least one concern they have about your solution. Prior to concluding the presentation, go around the room and ask each individual to share those thoughts. It’s a beneficial exercise for you and for your audience.

5. SET ASIDE TIME WITH EXECUTIVE DECISION MAKERS

Don’t be alarmed if your executive decision makers don’t attend the entire on-site meeting. It’s very common for top executives to skip out on the detailed product demonstration or a deep-dive on implementation processes. While it’s okay for your executives to be absent for the detailed discussions, it is vital to set aside time with them to review business terms. When discussing the relationship between your two companies with an executive decision maker, bring in members of your executive team, whenever possible, so you can create executive alignment.

6. FOLLOW UP

Follow up your on-site meeting with a personal touch. Where most companies (and probably your competitors) will follow up with an email, stand out from the crowd by sending a handwritten thank you note to each attendee. For an even bigger impact, make the note personal by addressing a question they asked or specific use case they brought up – the extra time you spend on these notes will go a long way.  Lastly, send the notes with a small, branded gift from your marketing department, like a branded notebook or mug. Not only will you stand out from the competition, but you’ll also leave behind a little reminder of your solution.


Now that you know the 6 best practices to facilitate better on-site sales meetings, you’re ready to go out and start selling your UCaaS solution! We hope our effective sales meeting tips will help you improve close ratios and make a great impression on your prospects. Good luck!  For more information about the sales process or our IoT & telecom billing platform, please Contact Rev.io for more information about the sales process or our IoT & telecom billing platform. We’re here to chat.

 

eBook: Top Tips to Increase the Value of Your Communications Company

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What is the value of your communications company? 

While the answer to that question depends on numerous factors, it is crucial to keep in mind throughout every stage of growth in your business. Even if you are not quite ready to sell, a sound exit strategy can help any business owner achieve peace of mind and lead to a successful future sale.

Communications is a crowded space. The businesses in this market are constantly looking for ways to differentiate themselves and stand out from their competition. Rather than constantly chasing “the next big thing,” we want to help Voice, Data, and IoT service providers by outlining the top factors that impact valuation and actionable steps you can take today to increase the value of your communications company.


In this free eBook, we provide tips to increase the value of your company. You’ll learn:

  • The current state of Technology, Media & Telecommunication (TMT), which accounted for $698.2 billion in M&A activity, spread across 3,021 total deals in 2106 alone.
  • The top seven factors impacting valuations in this space (like growth rate, adoption of emerging technology, compliance, data and reporting capabilities, margins, ARPU and retention).
  • The top seven steps you can take today to increase the value of your communications company.

 

Whether you’re looking to raise money for growth or maximize valuation for exit, the power is in your hands to increase the value of your communications business. Download our free eBook below to get started.

Download Now

The Managed Service Provider’s Guide to Stronger Customer Relationships

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According to CRN, the managed services market reached $145.3 billion in 2016 and “will grow at a rate of 10.8% to $245.5 billion by 2021.”

As cloud computing technology continues to gain traction in the market, more and more organizations are turning towards Managed Service Providers (MSPS) to leverage expertise, improve security, cut costs and improve uptime. With increased demand comes a slew of competition, making strong customer relationships even more critical for today’s MSPs. Continue reading our guide for managed service providers to start building customer relationships today.

As the IT industry continues to shift away from traditional professional services towards cloud and Saas applications, MSPs must find a way to adapt their strategies. What was once a matter of selling physical products has now grown into something much bigger – Infrastructure as a Service, or, “a standardized, highly automated offering, where compute resources, complemented by storage and networking capabilities are owned and hosted by a service provider and offered to customers on-demand.”

How can managed service providers adapt to this shifting technology marketplace?

As a managed service provider, it’s your job to help your customers see the future and provide a way to help them reach those goals through technology. At the same time, you must stay committed to internal innovation. For MSPs, no two accounts are alike, so you must tailor your services based on the evolving needs of your customers. Adding recurring and usage based offerings to your portfolio will help your customers transform their businesses and, in turn, keep you competitive. In order to succeed in this space, MSPs must find a sophisticated billing solution that is capable of usage based billing.

When it comes right down to it, MSPs must keep their focus on value-added services and an up-to-date solutions stack.

CompTIA, the world’s leading tech association, is spearheading this usage based service movement for MSPs. Annette Taber, CompTIA’s vice president of industry outreach, had this to say about their recent Business Apps Council launch, “Companies represented on the council come from the ‘as a service’ world, with applications and solutions delivered via the cloud and sold to customers as subscriptions. But while their route to market may differ from traditional channel companies, we believe there are many opportunities for the two to coexist and cooperate. Our goal is to identify opportunities for collaboration and create the tools to make it possible.”

It’s an exciting time for MSPs. If you want to learn more about how our telecom billing platform can help you scale your managed services businesses, contact Rev.io at any time.

How to Choose The Best Billing Partner

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At Rev.io, we’re passionate about innovation. We understand that offering a recurring or usage-based service is challenging. That’s why we’ve developed a cloud-based platform to solve those mission-critical billing and back-office pain points for Communications and IoT service providers.

Whether you’re already using a Quote-to-Cash billing platform or considering an evaluation in the future, here are three characteristics to look for in a billing partner.

1. Client Driven Roadmap

Before you invest the time (and expense) to migrate to a new cloud billing service, be sure the company has a mature program in place for collecting and implementing client feedback. The communications and IoT industries are two of the fastest-changing markets in business today. You want to be sure that your subscription software will help you stay ahead of this fast paced market.

Rev.io’s mission is to be the best back-office software company in the world. We started the Rev.io Ideas forum to help us empower clients and evolve our platform to meet their needs. Rev.io Ideas is a community for our clients to share suggestions and vote for their favorite ideas. This year, we’ve released 82 enhancements from Rev.io Ideas (and it’s only the beginning of August)!

We want to highlight and thank our clients for their suggestions. Here are the Rev.io Ideas released in July, and the Clients who suggested them:
Comm-core
– Create email template to bulk email customers
MagicJack
– Show raw provisioning logs for orders
Ready Wireless
– Create the ability to do reconnect orders through Rev.io API
GymPhone
– Extend payment arrangement to three months
Approved Link
– Create the ability to do reconnect orders with wireless service providers
ATL Communications
– Add credit card fee warning to auto-debit screen
– Multiple Clients & Internal Employees
– Enable mustache syntax for request templates

2. Development Team In-House

During your evaluation of telecom billing partners, be sure to probe into the company’s software engineer team. With a full market of outsourced development resources, becoming a SaaS (Software-as-a-Service) provider is easier than ever. Avoid the billing blues by going with a provider that has a full team of qualified developers in-house.

Founded by a developer, our Platform Team is the largest department in our organization today. Rev.io delivers high-quality integrations and enhancements that have been QAed, peer-reviewed, and client-tested before we announce new features publicly. We’re constantly innovating our platform to help clients grow and beat the competition.

3. White-Glove Onboarding and Training

When looking for a cloud billing service, be sure you consider the people behind the platform. Ask for an outline of the onboarding process and timeline, a detailed overview of the training, as well as client references. It’s worth your while to fully vet these crucial areas of a billing partner before moving forward. You’ll thank us later.

While other cloud billing service providers in the market cut corners – by outsourcing or skimping on client onboarding, training, and support – Rev.io is proud to provide a successful and positive client experience. That’s why we assign each new client with a dedicated onboarding team comprised of a project manager, data migration engineer, and enablement trainer.

The right billing partner makes all the difference. Ready to learn more about the Rev.io difference? Contact us or request a demo today.

Exploring Mobility & Connectivity in 2017

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At Rev.io, we are passionate about the industries we serve and are always looking to keep a pulse on what’s next. Today, we will examine the current state of IoT connectivity and mobility, take a deep dive into what the future holds, and explore the potential implications for service providers.

A Brief History of Connectivity

In the late 1980s, a company called CompuServe introduced “CompuServe Information Service” (CIS), a new service offering giving users widespread access to what would eventually become known as the Internet. Personal computing quickly gained traction, ushering in a new era of connectivity. The 1990s brought 2G technology, faster connection speeds, the first SMS message, and wifi. And by 2010, the snowball had continued with the widespread adoption of broadband, cloud computing, social networks, and connectivity over cellular networks, paving a new path towards global mobility and a digital revolution.

Today, almost two-thirds of the world’s population have a mobile phone, and more than half have a smartphone. Over half of the world’s web traffic comes from mobile devices and more than half of those mobile connections are broadband. This widespread connectivity has not only revolutionized the way consumers connect but also the way business is done, giving key decision makers access to data on demand.

The Next Era of Connectivity? IoT

A recent Gartner survey found that 8.4 billion connected things will be in use worldwide in 2017, up 31 percent from 2016. As infrastructure expands, that number will continue to grow, forecasted to reach 20.4 billion by 2020. The phenomenal growth is stemming from two main groups:

Consumers:

Consumers represent the largest group of users of connected things, with 5.2 billion units in 2017. This year, consumer applications will represent 63% of total IoT applications.

Businesses:

While consumers are on track to purchase more devices, businesses will outspend the consumer group on Internet of Things solutions. IoT services represent a major driver of this growth. In 2017, IoT services spending (professional, consumer, and connectivity) is on pace to reach $273 billion.

More Data = More Opportunity

As users are looking to their service providers for new and improved ways to connect with their data, businesses are looking for real-time ways to leverage it. This growing need for management and maintenance of connected services, and the massive slew of data that comes with it, is opening new revenue opportunities for providers. In fact, by 2022, the connectivity market will account for 24.69 billion total.

In the last 30 years, connectivity has evolved at a rapid pace, ushering in a new generation of mobility and opportunity. 2017 is the year for service providers to step up to the plate and create better experiences for end users. If you’re ready to take advantage of a space facing phenomenal growth, we’d love to help. Schedule a demo or contact Rev.io today to learn more about how Rev.io can help you grow in 2017 and beyond.

IoT World 2017: Our Top 3 Takeaways

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IoT World 2017: Getting Connected to the IoT Revolution

This month, our team had the chance to attend IoT World 2017, the world’s largest IoT event. We joined thousands of IoT executives and enthusiasts from around the globe (in the beautiful city of Santa Clara, CA) to explore the current state and future of IoT. From consumer to industrial IoT, this 3-day event was jam packed with valuable insights, from leaders and innovators in the space, that we are excited to share with you.

In case you didn’t have a chance to attend the event, or simply want to relive the magic, here are our top three takeaways from the IoT World 2017 conference:

IoT Interest/ Adoption Isn’t Slowing Down

If there’s one thing that was made abundantly clear during the conference, it’s that the IoT market is growing and is showing no signs of slowing down. In fact, the IoT World conference itself has grown from 700 registered attendees in 2014 to 15,000 this year! One of the largest areas of growth? B2B solutions. Adoption of IoT technology is quickly shifting to the enterprise and industrial ream, with spend reaching $267B by 2020.

IoT Data is Exploding, Businesses are Shifting

The natural result of increased connectivity? More data. IoT World 2017 showcased business leaders finding new and exciting ways to provide data-driven, end-to-end solutions for their customers. From smart meters to automated inventory management, track and trace to remote patient monitoring, businesses in every industry of every size are finding ways to leverage IoT data. New business models are emerging to better tie IoT data to business objectives, allowing organizations to provide high-value offerings for their customers while adding to their bottom line.

One of the coolest aspects of the event was the chance to hear from both established, technologically advanced businesses and up-and-coming, innovative startups. And while we fully enjoyed listening in on how major keynotes like Mastercard and Silver Springs Network are leveraging IoT data, our team couldn’t help but be drawn to the excitement and innovation of Startup City, highlighting 100+ startups shaking up the IoT space.

IoT Partnerships Remain Top-Of-Mind

If there’s one thing we took away from IoT World, it’s that successful adoption and monetization of IoT requires multiple moving parts. As more businesses find ways to leverage IoT to provide greater value to their customers, it’s becoming abundantly clear that a strong ecosystem of partners is necessary to conquer the space. Lou Lutostanski, VP of IoT at Avnet said, “We’re here to gain a deeper understanding of partners in the ecosystem and see how we fit and how we can use them for a full-blown solution for multiple customers.” Organizations are looking outward to develop end-to-end solutions.

Side note, we loved this article from IoT Evolution World describing what they thought to be the most fascinating “real world” IoT solution introduced at the conference.

In conclusion? IoT World 2017 delivered.

As promised, the event provided ample partnership opportunities and is developing ecosystems to monetize the IoT evolution. Learn more about the future of IoT and how Rev.io’s fully-integrated cloud-based billing software and management platforms can help your business. If you’re looking for a telecom billing partner to dominate the IoT landscape with, we’d love to show you how Rev.io can help.

The One Major Gap in the IoT Data Ecosystem

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IoT Data = Infinite Potential for Service Providers

It’s no longer a secret – the Internet of Things (what many are calling the next Industrial Revolution) has made its debut and the world is starting to get a glimpse of its infinite potential. One group that has certainly taken notice – the global business community – and for good reason.

With the potential to generate about $19 trillion in value over the next few years, it’s becoming clear that IoT data represents the future of opportunity for service providers rather than a passing trend. Companies both big and small are entering the IoT ecosystem, eager to win a piece of the pie. In fact, a study commissioned by Oxford Economics shows that revenue growth is by far the biggest factor driving IoT adoption.

But, as is the case with most revolutionary opportunities, there is a catch.

Let’s say you’re building the next big thing in IoT. You have an idea, a team and a product that you believe in. Here’s the million dollar question – how do you plan to monetize the solution? Even further, how will you leverage IoT data to bill customers for the services provided? The possibility and potential of IoT is everywhere. But we’ve noticed a major gap in the IoT ecosystem – a way to translate this slew of IoT data into cold hard revenue.

This gap isn’t slowing down IoT adoption. According to a recent survey of business leaders around the globe, 96% said their companies would be using IoT in some way within the next 3 years and 68% are already investing budgets into IoT. Yet, 70% of organizations are not generating service revenues from their IoT solutions and through 2018, 80% of IoT implementations will fail to monetize IoT data.

The lesson learned? IoT technology is exciting and has incredible implications for service providers, but the ability to monetize and bill for these solutions is critical and shouldn’t be overlooked.

“In short, the vast majority of the data being generated by connected devices remains undervalued and unmonetized.”

– Roman Stanek, Founder & CEO of GoodData

IoT solutions will give consumers more control over products and services like never before and, in turn, open new doors for service providers looking to locate new streams of revenue. But know that if you place “monetizing the solution” at the end of your IoT to-do list – you’re in trouble.

When you’re building IoT offerings, the last thing you need to be worrying about is IoT billing infrastructure. So that is why we built out an ebook dedicated to helping businesses not just navigate this uncharted territory, but master it.
Download Ebook Now

 

Have questions about what you read – or want to just hop on the phone instead of reading more? Contact Rev.io anytime – we would love to be a sounding board to help you be a head of the pack when it comes to IoT.

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